{"id":5099,"date":"2011-01-11T14:24:54","date_gmt":"2011-01-11T14:24:54","guid":{"rendered":"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-tradebook-first-to-automate-global-portfolio-trading-2\/"},"modified":"2011-01-11T14:24:54","modified_gmt":"2011-01-11T14:24:54","slug":"bloomberg-tradebook-first-to-automate-global-portfolio-trading-2","status":"publish","type":"press","link":"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-tradebook-first-to-automate-global-portfolio-trading-2\/","title":{"rendered":"BLOOMBERG TRADEBOOK FIRST TO AUTOMATE GLOBAL PORTFOLIO TRADING"},"content":{"rendered":"
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\n– New Portfolio Algorithm helps safeguard buy-side trading by
\nproviding
\nunprecedented control, transparency and automation <\/p>\n

– Designed to reduce trading costs and enable trading of entire
\nglobal portfolios <\/p>\n

– Maintains dollar neutrality, adjusting FX rates in real time <\/p>\n

New York, January 11, 2011 – Bloomberg Tradebook\u00ae, a leading
\nglobal agency broker, today announced the launch of Bloomberg
\nTradebook\u2019s Portfolio Algorithm, the first algorithm to fully
\nautomate global equity portfolio trading. The new Bloomberg
\nTradebook Portfolio Algorithm connects to over 70 liquidity
\nvenues in more than 41 countries around the globe. <\/p>\n

Bloomberg Tradebook\u2019s Portfolio Algorithm provides institutional
\ninvestors, who invest globally using sophisticated basket
\ntrading strategies, more safeguards for their holdings, trading
\ndecisions and strategy. Bloomberg Tradebook\u2019s Portfolio
\nAlgorithm gives buy-side traders complete control over the
\nexecution of their global equity trading, while remaining dollar
\nneutral. <\/p>\n

\u201cThe new Bloomberg Tradebook Portfolio Algorithm is a game-
\nchanger and successfully tackles a complex problem that has
\neluded the market for a long time — how to fully automate
\nglobal equity portfolio trading,\u201d said Raymond M. Tierney III,
\nBloomberg Tradebook\u2019s Chief Executive Officer and President.
\n\u201cBuy-side traders want more control and our Portfolio Algorithm
\nputs the power back in their hands with unprecedented control
\nand transparency.\u201d <\/p>\n

A flexible platform, Bloomberg Tradebook\u2019s Portfolio Algorithm
\nis designed to streamline trading of a portfolio while seeking
\nto lower implicit trading costs and increasing workflow
\nefficiency. While the algorithm is completely automated,
\nBloomberg Tradebook offers clients a global team of execution
\nconsultants, who are able to step in, if necessary, to assist in
\nmodifying the algorithm as it trades across the world. <\/p>\n

\u201cAs a buy-side trader, I have a need to stay cash neutral on
\nglobal orders, and Tradebook\u2019s Portfolio Algorithm addresses
\nthis by working the orders within my set tolerance levels,\u201d said
\nMark Hunter, Equity Trader, New Brunswick Investment Management. <\/p>\n

Tradebook leverages the breadth and depth of data and analytics
\nof the Bloomberg Professional\u00ae service to incorporate real-time
\ncurrency rates in order to maintain dollar neutrality. The
\nPortfolio Algorithm also enables traders to control more of
\ntheir workflow and style by designating urgency levels and
\nspecifying the level of aggression on which the algorithm will
\nseek liquidity. They can also control if the algorithm seeks a
\nVolume-Weighted Average Price (VWAP) or arrival price benchmark. <\/p>\n

Tradebook\u2019s Portfolio Algorithm will also benefit small and mid-
\nsized brokers who traditionally lack the resources to trade
\nbaskets globally across time zones for buy-side clients. <\/p>\n

About Bloomberg Tradebook
\nBLOOMBERG TRADEBOOK\u00ae is Bloomberg\u2019s agency broker that partners
\nwith both the buy-side and sell-side to provide high-quality
\nliquidity, market insight, and customized solutions based on
\ninnovative technologies. Founded in 1996, Tradebook offers its
\ncustomer base trading solutions for equities, futures, options,
\nand foreign exchange (FX) to actively manage complex trading
\nstrategies in more than 70 global markets. <\/p>\n

MEDIA CONTACTS:
\nIn US: Pam Snook, Bloomberg LP, pamsnook@bloomberg.net<\/a>, +212-
\n617-7652, Loretta Mock, Cognito Media,
\nBloomberg@cognitomedia.com<\/span>, +1 646 395 6300 <\/p>\n

In UK: Rod de St. Croix,BloombergUK@cognitomedia.com<\/span>, +44 (0)20
\n7438 1100, In Asia: Anne Karumo,BloombergAsia@cognitomedia.com<\/span>,
\n+65 811 264 09 <\/p>\n

#<761373.6922700.2.1.69.30975.2660>#
\n-0- Jan\/11\/2011 14:24 GMT\n <\/p>\n<\/div>\n\n<\/div>\n\n\n<\/div>\n\n\n\t\t\n\t<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

– New Portfolio Algorithm helps safeguard buy-side trading by providing unprecedented control, transparency and automation – Designed to reduce trading costs and enable trading of entire global portfolios – Maintains dollar neutrality, adjusting FX rates<\/p>\n","protected":false},"featured_media":0,"template":"","format":"standard","categories":[17],"press_tag":[],"class_list":["post-5099","press","type-press","status-publish","format-standard","hentry","category-press-announcement"],"yoast_head":"\nBLOOMBERG TRADEBOOK FIRST TO AUTOMATE GLOBAL PORTFOLIO TRADING | Press | Bloomberg LP<\/title>\n<meta name=\"description\" content=\"- New Portfolio Algorithm helps safeguard buy-side trading by providing unprecedented control, transparency and automation - Designed to reduce trading costs and enable trading of entire global portfolios - Maintains dollar neutrality, adjusting FX rates\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-tradebook-first-to-automate-global-portfolio-trading-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BLOOMBERG TRADEBOOK FIRST TO AUTOMATE GLOBAL PORTFOLIO TRADING | Press | Bloomberg LP\" \/>\n<meta property=\"og:description\" content=\"- New Portfolio Algorithm helps safeguard buy-side trading by providing unprecedented control, transparency and automation - 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